Ingram Micro Sales Soar 9.5% to $52.6B with Q4 Record Cash Flow
Ingram Micro's 2025 net sales rose 9.5% to $52.6 billion, with Q4 net sales of $14.9 billion surpassing guidance and double-digit growth in Asia-Pacific. The company cut operating expenses to 5% of net sales and reported Q4 adjusted free cash flow of $1.63 billion, the highest in over a decade.
1. 2025 Net Sales Growth
Ingram Micro achieved net sales of $52.6 billion in 2025, marking a 9.5% year-over-year increase. Growth was broad-based across North America, Europe, the Middle East and Africa, Latin America and the Asia-Pacific, with the latter delivering consistent double-digit gains.
2. Q4 Cash Flow and Efficiency Gains
Fourth-quarter net sales reached $14.9 billion, exceeding the high end of guidance. The company trimmed operating expenses to 5% of net sales and generated $1.63 billion in adjusted free cash flow, the strongest quarterly result in over ten years.
3. Xvantage Platform Impact
The Xvantage platform now processes the majority of Ingram Micro’s net sales, leveraging AI-driven capabilities to boost customer productivity and improve margin profiles. Management credits this technology for a shift in sales mix toward higher-value services.
4. Q1 2026 Outlook
For the first quarter of 2026, the company projects net sales between $12.45 billion and $12.80 billion. Non-GAAP diluted EPS is forecast at $0.67 to $0.75, implying up to 23% year-over-year earnings growth and further operating-expense leverage.